People are dumping currency in favor of “safe” assets. Real estate, cryptocurrency, precious metals and equities. As last man standing pointed out currency is being debased and there will be inflation. A healthy economy needs it as a small percentage. Governments are printing money like there’s no tomorrow and inflating the money supply. Inflation is not all about an inflated money supply. It is also about a shortage of goods and services real or perceived. We saw it last spring with the run on toilet paper. Even though the supplies were ample the perception of a shortage caused panic buying and suppliers could charge more.
Covid 19 is creating disruptions in the supply chain that has and will lead to shortages that will fuel inflation. Governments giving out “free” money as stimulus compound the problem.
It seems to me that governments want people to be dependent on them. They are taking away the opportunities for people to be independent and wanting to introduce basic income which will lead to more problems in the end.